HENDERSON, Nev., Sept. 7, 2005 (PRIMEZONE) -- International Star, Inc. (OTCBB:ILST) today made public the details of the drilling program now in progress on the Detrital Wash property, Mohave County, Arizona.
International Star has developed a comprehensive drilling program working with local independent contractors to complete the testing phase on its significant holdings in the Detrital Wash, in northeast Arizona. After a bulk sample returned very promising results in 1998, further testing was delayed when the company experienced problems in raising the necessary funds to continue testing. In 2004, under new management, the company was able to raise the capital needed to not only retain the services of Kokanee Placer, Inc., to perform the preliminary surface sampling on the original 1,280 acres, but to also stake and claim an additional 20,000 acres in the Detrital Wash area. Although the sampling was on previously disturbed property, it resulted in pinpointing hot spots that indicated the need for more detailed testing. In 2005, ISTAR retained the services of a mining contractor for the next phase of testing on the property; results of that testing proved to be consistent with the earlier round of testing.
After analyzing the drilling and sampling procedures used in the past and speaking to numerous local professionals and experts, the current drilling program was developed. Taking advantage of the additional property that was not available when the first series of testing began, satellite imaging was utilized to establish the most probable new locations for testing. Working with the Arizona BLM (Bureau of Land Management), which manages the Detrital Wash property, permits were applied for and received, and a Surety Bond was posted for reclamation fees.
On September 7, 2005, Layne Christensen Drilling, under the supervision of RMC, Inc., began a concentrated drilling program. The program will consist of six holes drilled to a depth of 100 feet, with samples taken every ten feet. The samples will be collected under the custody of Richard W. Bybee, consulting geologist. Once the samples have been collected and processed for testing, they will be sent to two independent labs for analysis. The drilling project is expected to be complete by September 12, 2005, and the assay results should take another two to three weeks to be completed. During that timeframe ISTAR will decide the feasibility of taking more bulk samples on the Detrital Wash to assist with the determination of the most prudent method of extraction for the production process. Test results will be made public as soon as they are available. A detailed report will be presented to the shareholders at the Annual Shareholders Meeting on November 4, 2005.
International Star will continue to pursue means to expand its exploration activities on both its Detrital Wash and Wikieup properties, either by seeking additional capital through loans or private placements of its securities, or possibly entering joint venture arrangements with one or more other, more substantial companies. However, there are no arrangements now in place to further fund the company by any of these means, and the outcome of the discussions with other entities cannot be predicted. If the company raises capital by selling its equity stock, the proportionate ownership of existing shareholders will be diminished.
This news release contains forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties that may cause the company's actual results to differ materially from forecasted results.
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